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The Latest Breaking News from KPMG

Lenders expect mortgage demand to shrink in early 2025, Bank of England finds

The latest survey findings point to the financial strain on households against a backdrop of continued inflationary pressures, one expert said.

Evening Standard

Retail sales saw ‘solid’ growth in final month of 2024, experts say

The Scottish Retail Consortium said 2024 on the whole, however, was a ‘tepid’ year for sales in Scotland.

Evening Standard

Permanent job vacancies in UK shrink at fastest pace for four years

Job market data deepens sense of gloom enveloping UK plc as analysts plan close look at effects of NICs rise on hiring

The Guardian - UK

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New Budget blow for Starmer as retailers warn of price hikes and job cuts

Retailers will be particularly hard hit by chancellor Rachel Reeves’s planned hike to employers’ national insurance

The Independent UK

Less than a fifth of people have switched bank account in past year – survey

Cash incentives, better customer service and more competitive interest rates were among the top reasons why people said they had last switched.

Evening Standard

Most UK businesses expect to grow in new year, surveys find

Economic confidence polls reveal that 70% expect turnover to rise and 73% expect profitability to rise

The Guardian - UK

Finance bosses ‘optimistic’ about Labour plans to cut red tape, survey finds

Polling by KPMG found more than half of the finance industry plans to ramp up hiring in early 2025.

Evening Standard

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Amazon and AT&T want an end to remote work: will 2025 finally be the death of WFH?

With the pandemic behind us, some executives argue that remote work has outlived its usefulness. Yet the data tells a different story.

Fortune

Who Is Eric Moneyham? Finance Consultant Sucker Punches NY Optometrist, Attacks Others in NJ

Finance consultant Eric Moneyham faces charges for a violent spree, including sucker-punching an optometrist and healthcare workers.

International Business Times UK

Macy’s employee responsible for a $151 million accounting scandal made one mistake that snowballed into intentional coverup

“This was not theft,” Macy’s chief financial officer confirmed Wednesday.

Fortune

Business confidence tumbles to two-year low following Reeves’s raid on employers

Bosses expect orders to fall, costs to rise and consumer confidence to be hit

The Independent UK

UK job vacancies fall at fastest rate since pandemic as business confidence slumps

Blow to Labour growth hopes as poll finds demand for staff falling at ‘sharp and accelerated pace’, particularly in permanent roles

The Guardian - UK

New home construction slumps to near 40-year low in Australia as renovation spending booms

‘This indicates that there is not enough money and resources being attracted to expanding the housing stock,’ urban economist says

The Guardian - AU

How HR leaders can help solve the workplace loneliness epidemic

Companies want to create a culture where employees make lasting friendships. Doing so takes effort.

Fortune

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Newcastle Herald

Tower of dreams turns into nightmare: Bowline developer in receivership

The project has been plagued with issues and delays.

Golf Monthly

Who Is Niklas Norgaard's Caddie?

Kasper Broch Estrup helped Nikas Norgaard to the biggest win of his professional career in 2024 – here’s what we know about him

Evening Standard

Retailers suffer ‘disappointing’ October amid pre-Budget jitters

Total UK retail sales were up 0.6% year-on-year last month against a 2.6% increase last October, according to the BRC-KPMG Retail Sales Monitor.

Fortune

KPMG says the CPA qualification's '150-hour rule' needs to go

Educators often claim that accounting firms don’t pay enough to attract talent lured by lucrative salaries in other areas of business.

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Evening Standard

Consumer confidence falls again amid ‘despondent mood’ ahead of October Budget

Chancellor Rachel Reeves has repeatedly warned of ‘tough choices’ at upcoming spending review, hitting consumer sentiment.

Evening Standard

Deloitte cuts 250 UK jobs amid slowdown for consulting giants

A person familiar with the matter said the cuts are part of a ‘performance management’ process at the company.

Roll Call

Tax veterans see protracted standoff over expiring breaks - Roll Call

The growing possibility of divided government next year has some predicting the 2025 tax fight could stretch into 2026 and beyond.

Evening Standard

‘Many households still struggling’ as lenders report rise in mortgage defaults

A finance expert said that a Bank of England survey of lenders suggests that many households are still struggling in the current environment.

Fortune

Exclusive: AI fears and and 4-day workweek dreams: Here's what a survey of hundreds of interns reveals about Gen Z workers

The early-career Gen Zers want flexible schedules, a sense of belonging, and volunteering opportunities.

The Independent UK

‘Many households still struggling’ as lenders report rise in mortgage defaults

A finance expert said that a Bank of England survey of lenders suggests that many households are still struggling in the current environment.

Fortune

C-suite leaders race to keep up with the rapid pace of AI before competitors take the lead

Businesses are struggling with the speed of technological change, according to new research.

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